i-MSME Express
Overview
i-MSME Express Product is a key technological advancement has been launched and to be used by the bank to digitally process MSME loan proposals without manual intervention. Direct processing of loans is set up to different stages i.e. In-principle approval stage, Sanction stage and disbursement of loans (end-to-end digitization).
Bank has now introduced a digital platform exclusively for GST registered Customers under i-MSME Express digital Journey (Loan Amount from Rs. 1.00 Lakhs & upto Rs 25.00 lakh). This platform enables existing to bank customers to avail loan above Rs.1.00 Lakh and upto Rs.25.0 Lakh through mobile and web application interfaces in a self-service mode.
The i-MSME Express is designed to provide quick and easy access to credit for MSMEs leveraging their GST registration and transaction data.
Features
| Sanction Process | It will be end to end digital process . |
| Security | Nil |
| Target Clientele | All potential and existing MSME customers |
| Facility Offered | Cash Credit |
| Amount | Minimum: Rs. 1 Lakh Maximum: Rs. 25 Lakhs |
| Tenure | 12 Months |
Advantages
The i-MSME Express is an initiative designed to provide quick and easy access to credit for MSMEs leveraging their GST registration and transaction data.
Documents Required
Business A/c Statement for minimum 1 completed year in PDF format (for other Bank Accounts).
Please upload Bank A/c Statement corresponding to filed GST returns.
GST & ITR credential.
PAN & Aadhaar of Promoters.
Business PAN of Entity/ Sister concerns.
Udyam Registration number of Business.
How to Apply
1
Apply with business PAN Or existing IDBI bank account number upload latest ITR, and provide GST details through GSTN consent.
2
System automatically verifies identity, income, and business revenue.
3
Loan eligibility is assessed through automated processing.
4